CNBC Daily Open: August’s CPI report isn’t as bad as it seems
Publishing timestamp: 2023-09-14 09:38:22
Summary
The U.S. consumer price index for August rose 3.7% from a year ago, with energy prices being the main contributor. Core inflation, excluding food and energy prices, was up 4.3% on the year. U.S. markets were mixed, with the Dow Jones falling and European markets cautious. Arm priced its IPO at $51 per share, valuing the company at over $54 billion. Citigroup CEO reorganized the firm, leading to job cuts. Morgan Stanley and billionaire investor Ron Baron made positive predictions for Tesla. The CPI report may not be as alarming as it seems, with rising oil prices and housing costs being the main factors. Overall, the markets reacted calmly, and traders don't expect the Federal Reserve to raise rates next week.
Sentiment: MIXED
Tickers: C, AMZN, CAT, TSLA, .IXIC, AAPL, .DJI, NVDA, .SPX, MMM,
Keywords: inflation, world markets, consumer prices, amazon.com inc, nasdaq composite, nvidia corp, s&p 500 index, tesla inc, markets, 3m co, citigroup inc, apple inc, caterpillar inc, dow jones industrial average, banks, technology, business news, united states,
Source: https://www.cnbc.com/2023/09/14/stock-markets-augusts-cpi-report-isnt-as-bad-as-it-seems.html